Question

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Answer 1

Answer:

➛ Given

• amount rupee 2020
• Time $\dfrac{3}{12}$ = $\dfrac{1}{4}$
• Rate 5%

➛ To find

• principal amount

➛ Solution

S.I = $\dfrac{P~×~R~×~T}{100}$ = $\frac{p\times 5 \times \frac{1}{4} }{100} = \frac{p\times \cancel5 \times \frac{1}{4} }{ \cancel100} = \: \frac{p}{80}$

Amount = S.I + principal

2020 = $\frac{p}{80}$ + P

2020 = $\frac{p}{80}$ + $\frac{p~×~80}{1~×~80}$

2020 = $\frac{81p}{80}$

Now, principal

P = $\frac{2020 \times 80}{81}$ = $\frac{161600}{81}$

P = 1995

hence the sum of money is 1995 rupee

Answer 2

Solution:

Let the required sum of money be ₹x

Therefore:

→ Principal = ₹x

→ Rate of Interest = 5% per annum.

→ Time Period = 3 months = 3/12 years = 1/4 years

Now:

→ SI = PTR/100

→ SI = x × 1/4 × 5/100

→ SI = x × 1/4 × 1/20

→ SI = x/80

The amount will be:

→ A = P + SI

→ A = x + x/80

According to question:

→ x + x/80 = 2020

→ 81x/80 = 2020

→ 81x = 2020 × 80

→ x = 2020 × 80/81

→ x ≈ ₹1995.00 /-

★ Therefore, the required sum of money is ₹1995.00

Basic Knowledge Required:

1. Simple Interest = Principal × Rate × Time / 100

2. Amount = Principal + Simple Interest.

3. Always convert time to years if the rate of interest is per annum.